Triwer ICO Review — Parcel Delivery on the Blockchain

FTEC ICO
FTEC ICO Review —AI Meets Cryptocurrency Trading
May 28, 2018
Glitzkoin pic
Glitzkoin ICO Review— The Diamond Blockchain
May 31, 2018

Triwer ICO Review — Parcel Delivery on the Blockchain

Triwer ICO

There is a new ICO about to launch from an organisation called Triwer and it is aiming to offer a new way for e-commerce companies to deliver their goods to online purchasers throughout Europe.

This promise is for a more accessible, cheaper, and more secure delivery system than is available currently. Triwer will also help solve bottlenecks and inefficiencies by providing couriers with policies designed to improve the way they utilise spare capacity.

The system offers a price comparison facility, personalised delivery profiles, pick-up and delivery options, and parcel tracking across multiple online retailers and outlets.

Markets

E-commerce has transformed delivery markets, with the business to customer (B2C) and consumers and small businesses (C2X) taking a progressively greater market share of what used to be dominated by the B2C sector. It is anticipated that the European delivery market will hit €72.9 billion by 2020.

The challenge

Modern e-shoppers have raised their delivery expectations to include: same day deliveries, tracking in real time, specified short delivery windows, returns collection, and other delivery options. There is also downward pressure on pricing. While retailers such as Amazon have embraced such services, this is not the case generally.

From the supply side, there are massive inefficiencies including overcapacity especially at first and last mile delivery stages, lack of integration, losses from theft, poor tracking, and lack of flexibility.

The Triwer logistics solution

Customers will be able to select delivery options based on the delivery preferences stored in their delivery profiles. Triwer will then optimise the delivery route including multi-carriers and set up a corresponding smart contract including insurance, security, and tracking.

Once the goods reach the last mile, the customer will be provided with a narrow delivery window along with options to make last minute changes to avoid non-deliveries.

Technology

Built on Ethereum smart contracts and including a side chain to record tracking and additional information, privacy and security are guaranteed. The digital currency coin is the TRW and will be the operating currency on the platform.

After the smart contract is signed, the shipper deposits cryptocurrency funds into the Triwer escrow. On satisfactory completion of the contract, the funds will be released to stakeholders.

Triwer business model

Triwer will charge between 5% to 15% of the total delivery revenue, and the company believes with just 1% of the delivery market this will provide a revenue of €37.5 million, though a much higher market share is the aim. Initially, Triwer will deploy its platform in Scandinavia, UK, Spain, and Germany.

You can check out more about the business model and their plans in Triwer’s White Paper.

Timeline

Triwer was incorporated (Norway) in 2016. Through 2017 the technology and business plans were developed with the first beta testing taking place during Q1 2018. The private token sale began in May 2018, and the ICO will take place during June 2018. Longer term milestones include:

· July 2018: TRW listed on major exchanges

· August 2018: Full launch in Scandinavia

· Q4 2018: launch in major European cities

· Q1 2019: Expansion across EU

· Q2 2019: Acquisitions and joint ventures

· Q3 2019: Big data and AI integration

· 2020: Extension into Eastern Europe

TRW token distribution

A total of 1,000,000,000 (1 billion) TRW will be minted of which 375,000,000 will be distributed during the ICO, and 148,900,000 are available for private sale. The other tokens will be distributed as follows:

· Team and founders: 17.8%

· Private investors: 2%

· Marketing and bounty: 8%

· Business development, legal, and marketing: 14.88%

· Technical: 5%

ICO

The private pre-ICO sale began on 15th May, and the crowd sale begins on 1st June 2018. Key information:

· Soft Cap: $5 million

· Hard Cap: $25 million

· Token Symbol: TRW — Ethereum ERC20

· Total number of tokens: 1,000,000,000

· Tokens available for sale: 375,000,000

· Price: 1 TRW = $0.08

· Bonus: 15% to 25%

· Acceptable payments: ETH and BTC

· Country: Norway

ICO Ratings

Unusually there haven’t been many ratings of this ICO yet. The two main ones done so far are:

  • ICO Bench: 3.4/5
  • ICO Marks: 9.3/10

So a little contrasting there in their views, but hopefully the other ICO rating sites will review the Triwer ICO soon so there is a little more to go on.

Conclusion

This looks like a solid concept and certainly there is a lot of enthusiasm from the crypto community for this ICO, with over 47,000 Telegram members currently and 6,000 Twitter followers for Triwer already.

It makes sense to use blockchain technology to track parcels for delivery and we have seen a couple of other ICOs with a similar idea.

If Triwer can onboard enough customers and get the system widely used then this project could do very well and be of benefit to customers and businesses alike.

You can check out the Triwer ICO here, follow them on Telegram here and check out their White Paper here.

Article by cryptodan21, eth address: 0x06112aCDb854B3400507C3eDb0A0F148D0b3aFbC